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U.N. chief, UK PM increase pressure on leaders for climate change funds By Reuters



© Reuters. FILE PHOTO: Britain’s Prime Minister Boris Johnson greets U.N. Secretary-Normal Antonio Guterres earlier than a bilateral assembly, throughout G7 summit in Carbis Bay, Cornwall, Britain, June 12, 2021. Adrian Dennis/Pool by way of REUTERS

By Michelle Nichols and Valerie Volcovici

UNITED NATIONS (Reuters) -UK Prime Minister Boris Johnson urged leaders of the world’s main economies together with the USA to ship on their commitments towards a $100 billion per yr local weather fund with lower than six weeks to go earlier than a U.N. local weather summit.

Johnson and U.N. Secretary-Normal António Guterres hosted a roundtable of world leaders on Monday to handle main gaps on emissions targets and local weather finance.

“Too many main economies – some represented right here at present, some absent – are lagging too far behind,” Johnson stated. “I’ll stress that once more – for this to be a hit we’d like developed nations to search out that $100 billion.”

The closed-door assembly in the course of the annual high-level week of the U.N. Normal Meeting contains leaders and representatives from a couple of dozen nations representing industrialized nations, rising economies and weak growing nations.

These concerned within the roundtable included the USA, China, India, EU nations in addition to Costa Rica, the Maldives and a mixture of growing and center earnings nations and industrialized nations. 

Johnson informed reporters that he’s hopeful the USA can ship on a promise to step up its share of cash towards the $100 billion annual purpose however “we have been right here earlier than” and “we’re not counting our chickens.”

U.S. Local weather Envoy John Kerry, who represented the USA at Monday’s assembly, stated Washington would ship extra local weather support forward of the Oct. 31-Nov. 12 COP26 Local weather Change Convention in Glasgow, Scotland.

“The USA is crucially necessary,” Johnson stated. “It can ship a massively highly effective sign to the world.”

‘ENCOURAGING’

The roundtable dialogue goals to make sure a profitable final result on the convention whilst experiences present main economies being far off monitor on their emission discount targets and local weather finance commitments.

A U.N. evaluation of nation pledges https://www.reuters.com/enterprise/atmosphere/countries-emissions-pledges-still-fall-short-global-climate-goals-un-says-2021-09-17/?taid=6144e5d3a5c42200013c48c3&utm_campaign=trueanthem&utm_medium=trueanthem&utm_source=twitter beneath the Paris settlement on local weather launched on Friday confirmed world emissions can be 16% greater in 2030 than they have been in 2010 – far off the 45% discount by 2030 that scientists say is required to stave off disastrous local weather change.

One other report launched on Friday by the Organisation for Financial Co-operation and Improvement stated that wealthy nations possible missed a purpose to contribute $100 billion https://www.reuters.com/article/businessNews/idUSKBN2GD0WZ final yr to serving to growing nations cope with local weather change after growing funding by lower than 2% in 2019.

Guterres informed reporters after the roundtable that he heard “encouraging declarations” about elevating monetary assist to assist growing nations cope with local weather change.

“Will the developed world lastly materialize the $100 billion of annual assist to growing nations? We’re not but there. However at present there have been encouraging declarations on this regard,” he stated.

Guterres additionally pressed donor nations and multilateral growth banks to indicate progress towards assembly his purpose to extend the share of finance devoted to serving to nations adapt to local weather change to 50% from the present stage of 21%, stated Selwin Hart, particular adviser to Guterres on local weather motion.

A report launched on Monday by Oxfam estimated that rich governments will proceed to overlook the $100 billion purpose and attain solely $93 billion to $95 billion per yr by 2025 – 5 years after the purpose ought to have been met, depriving climate-vulnerable nations of between $68 billion and $75 billion in complete over the six-year goal interval.

Simon Stiell, Grenada’s minister for local weather resilience, stated that within the weeks between now and the summit, the strain is on the G20 group of the world’s greatest economies to step up their home emission discount targets and commitments to mobilize worldwide local weather support.

“Should you look a the position that the G20 performs within the world dialogue, they generate 80% of world emissions and represent 85% of world GDP. They’ve the wealth and expertise to behave,” he stated.

Motion by the G20 nations can “transfer the needle” when it comes to assembly the targets of the Paris local weather settlement, Stiell stated.

Guterres informed Reuters in an interview final week that the gulf between growing and developed nations places the summit susceptible to failure.

“There may be nonetheless a stage of distrust, between north and south, developed and growing nations, that must be overcome,” Guterres stated.





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